Let’s say you’ve been hurt in a car accident, and the other driver is at fault. Under current Florida requirements, all drivers must carry Personal Injury Protection (PIP) insurance, and even though you weren’t at fault in the accident, in order to have your injuries covered, you make a claim on your PIP. (PIP pays for your injuries if you’re hurt in an accident, no matter who is at fault.) You make the PIP claim and think no more about it.
But then later, you may find yourself in a predicament: your car insurance company non-renews you, and other insurance companies don’t want to insure you. If you have more than one PIP claim, you may find it nearly impossible to get car insurance.
Unfortunately, Personal Injury Protection claims are associated with insurance fraud: “While PIP premium represents roughly two percent of Florida’s collected insurance premium, this issue accounts for nearly 50 percent of fraud referrals,” according to the Florida Office of Insurance Regulation. Because of the high rate of fraud, many insurance companies now consider clients with PIP claims high risk—even if they were not at fault in an accident. This makes it difficult, if not impossible, for clients with PIP claims on their records to buy car insurance.
Until recently, clients with one or more PIP claims have been forced to rely on the Florida Auto Joint Underwriters Association (FAJUA). We’re happy to say that Lakewood Financial now has an alternative to the high rates of the FAJUA. If you’ve had one or more PIP claims, please call us at 941-747-4600, or contact us via email for a free, no-obligation quote. We’ve been serving the Sarasota/Bradenton and Lakewood Ranch areas since 2003, and we’re here to help.